13.08.2025 22:07
Bullish, the cryptocurrency exchange boasting Peter Thiel among its backers, experienced a spectacular debut on the New York Stock Exchange (NYSE) on August 13th, 2025. Its shares, trading under the ticker "BLSH," opened at a staggering $90, more than double its initial public offering (IPO) price of $37, representing a surge exceeding 200%. This dramatic increase immediately valued Bullish at over $16 billion, prompting temporary trading halts due to the intense volatility.
Investor demand for Bullish's IPO was exceptionally strong, driving the price up significantly before the NYSE listing. In fact, the final IPO price was nearly triple the initial range, indicating a considerable level of enthusiasm from the market. This impressive debut follows a series of successful initial public offerings in the crypto and fintech sectors throughout 2025, further solidifying the current positive market sentiment.
The substantial institutional interest played a pivotal role in Bullish's remarkable performance. SEC filings revealed that prominent investors like BlackRock and Ark Invest had shown significant interest, reportedly aiming to acquire up to $200 million worth of shares at the IPO price. This institutional backing underscores Bullish's strategic positioning as a platform catering specifically to institutional investors, a clear differentiator from its retail-focused competitors. Furthermore, Bullish's ownership of the crypto news outlet, CoinDesk, likely contributed to its strong market position.
By day's end, while experiencing significant fluctuations, Bullish's market capitalization settled at $10.23 billion. The stock's performance throughout the day, as reported by Yahoo! Finance, saw intraday highs exceeding $100 before retracting from its initial peak. This robust debut mirrored the overall bullish sentiment in the cryptocurrency market, coinciding with Bitcoin nearing its all-time high. The successful NYSE debut of Bullish serves as a powerful testament to the growing acceptance and investment in crypto asset platforms.
